Ikano Bank Reports Loss Amid 670 Million Kronor Credit Losses

Ikea-owned Ikano Bank made a loss after credit losses of 670 million kronor for the first half of the year.

"Mainly explained by costs of a one-time nature linked to the bank's ongoing change journey", the bank writes in the result report.

During the same period last year, there was a loss of 282 million kronor.

Revenues fell from 3.2 billion to 3.0 billion kronor.